FX/MM Settlements Associate,Assc2
Our Company
State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $24.37 trillion in assets under custody and administration and $2.09 trillion in assets under management at December 31, 2012, State Street operates in 29 countries and more than 100 geographic markets and employs 29,660 worldwide. For more information, visit State Street's website at www.statestreet.com.
Promoting a culture of excellence
With more than 29,660 employees across 29 countries, at State Street, our people are our greatest asset. We recognize that highly skilled, engaged and productive employees are essential to our success. Our company values reflect our commitment to employee engagement, Global Inclusion and corporate social responsibility -- to help you build a fulfilling career. Around the world, we aim to be an employer of choice by offering competitive compensation and benefits, personal and professional development opportunities, and a work environment that promotes a diverse array of people, ideas and skills.
We're a company that insists on, and rewards, performance excellence. We know our success hinges on attracting the best people to join us -- people like you.
We encourage you to explore the possibilities that a career at State Street can offer you.
State Street is an Equal Opportunity Employer, and prohibits discrimination against applicants or employees on the basis of any legally protected characteristic.
Client Deliverables
- Ensure all transactions originating from the Dealing Room have been correctly recorded in WSS, and refer any discrepancies to the Front office as soon as possible. This responsibility incorporates monitoring the complete transaction process from dealer input to the settlement of trade.
- Ensure all deals are being processed in a timely manner and prior to currency deadlines. At end of shift handover to night crew.
- Perform liquidity management tasks includinig monitoring of cash positions etc
- Research and organize reversal/replacement deals. Refer to investigations if payment needs to be recalled or amended. If necessary, confirm action to the appropriate section by E-mail.
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Risk and Controls
- Check the confirmation of all FX and MM deals and follow up with counterparty in a timely manner.
- Monitor Confirmation Matching Monitor for local trades and follow up with Front Office where necessary
- Investigate any query received from Dealers and Counterparts with regard to deals booked incorrectly - organise reversal/replacement deals and take the appropriate action to suppress payment. If payment has been effected, refer to Investigations to arrange cancellation / amendment. If necessary, confirm action to the appropriate section via Email.
- Prioritise work according to currency deadlines - ensure any late deals received are brought to the attention of Supervisor and appropriate steps are taken.
- Ensure full understanding and adherence to corporate risk policy and standard operating procedures
- Ensure all internal controls and audit requirements are met according to procedures/policies
- Ensure errors and SSGM's exposure to financial loss are minimised
- Be aware of both SSGM's and Global Services business contingency plans. Escalate issues that could result in the invoking of contingency procedures with your Supervisor / Manager
- Monitor queues in WSS, making sure all deals are approved and processed in a timely manner.
Monitor foreign currency cash positions to ensure all currencies have been correctly funded.
Client Service
- Respond promptly to client (internal / external) concerns, needs and requests
- Ensure all agreed deliverables and standards are met, participate in the resolution of problems as required
- Ensure that all Liquidity based trades are accurately captured in WSS and settled on value Date.
Change Management
- Demonstrate a willingness to support change / initiatives within SSGM (locally / globally)
- Demonstrate ability to take on tasks without instruction
- Assist with providing coverage to FX / MM Confirmations / settlements and the Operations department during times of increased workload, staff absences and public holidays
Education and Experience
- Demonstrated market knowledge and 2-4years market experience ini Global Markets
- Deadline and detail orientated
- Aptitude for good organisational skills
- A strong aptitude for information technology including MS office and SWIFT
Skills/Knowledge
- Effective communication and time management skills
- Demonstrate the ability to problem solve
- Be a strong team player
- Ability to multi-task amd prioritise responsibilities effectively
- A self starter
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